Traders discuss what’s next for Bitcoin after abrupt 3% overnight drop
Traders are mixed after the price of Bitcoin sees a sudden pullback from $10,950 to $10,630 overnight. The price of Bitcoin (BTC) abruptly dropped on Sep. 29 from $10,950 to $10,630 overnight, recording a 3% drop. Following the rejection at $11,000, the sentiment of traders remains mixed.Some are cautiously optimistic under the premise that BTC reclaims the $10,700 level. Technically, analysts say that the $10.7k area is a critical pivotal price point for Bitcoin in the near term.Others say that the price trend of BTC has reversed in the short term after its rejection. The intense reaction....
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The Bitcoin price is hovering above $17,700 after an explosive overnight rally. Albeit the market sentiment is at its peak, some traders anticipate a healthy BTC price pullback might occur. Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said an average 30% correction would mark a healthy pullback for BTC. If […]
The price of Bitcoin has begun its correction below $17,000, resuming the bearish downtrend from yesterday. Traders have mixed reactions to the weakening short-term momentum of BTC. Some traders think that BTC could drop to $16,000 or possibly to $13,800. The probability for a drop to the $13,000 region remains low, but that level is […]
Large corporations are buying Bitcoin at an accelerating pace, but pro traders are reluctant to open BTC longs while the dollar index strengthens. Bitcoin (BTC) price might have re-established $50,000 as a support, but the optimism of professional traders is nowhere near the levels seen before the 26% drop to $43,000 on Feb. 28. The current scenario is far from bearish, but derivatives indicators do not reflect the substantial purchases from institutional clients, including Microstrategy, Meitu, and most recently, Aker ASA, a Norweigian oil conglomerate.Bitcoin price, USD. Source:....
It’s that time of day again – the time for the first of our twice-daily bitcoin price watch analyses. Action overnight – as we will discuss shortly – was pretty flat, and we didn’t manage to get on the right end of any sustained movement. We did get into a couple of positions, but choppy action around resistance took us out these positions (by way of a stop loss hit) on a couple of occasions. With this in mind, we have shifted our focus range a little too account for the action we saw overnight, and – with any luck – to accommodate any volatility that we see throughout this morning’s....
The price of Bitcoin achieved a new all-time high above $57,800 after a brief overnight correction. The price of Bitcoin (BTC) dipped to as low as $53,905 on Binance overnight, recording a sudden 6% drop. But despite the minor correction, the price of Bitcoin quickly recovered thereafter, reaching a new all-time high above $57,800 on Feb. 21.BTC/USDT 4-hour price chart (Binance). Source: TradingView.comWhy did Bitcoin drop and recover so quickly?Although Bitcoin saw a steep drop within merely hours, analysts pinpointed that it fell to the exact bottom of a short-term trendline.John Cho,....